Allianz Australia
Reported Offshore Headcount
186+
reported 1 Mar 2026, Allianz tech 'transformation' exposed as offshoring drive
Estimated % of Workforce
N/A
Destination Countries
Financial Context
Estimated Wage Differential
~$16M/yr
Estimate uses avg AU employment cost of $110,000+/yr (incl. super and on-costs) vs offshore $25,000/yr (salary + on-costs). Actual figures vary by role, seniority, and location.
In Plain English
- In 2026, Allianz Australia was reported to have 186+ offshore contractors and staff.
- 🇮🇳 186+ staff reported in India in IT.
- Known outsourcing partners include HCL Technologies.
Based on data from public sources at the dates reported. Figures may not reflect current headcount. See sources below for full attribution.
The Story
- August 2026A Fair Work Commission unfair dismissal decision exposed Allianz's internal "Speed2Value" programme, publicly framed as a transformation for innovation and operational excellence, as an offshoring and cost-out drive. Allianz's own description, quoted in the decision: "The Speed2Value initiative is an ongoing, global initiative focused on transitioning certain in-house roles and functions out of high-cost jurisdictions and into an offshore or outsourced model." The decision records that "since the commencement of the initiative, AzTech's direct employee headcount in Australia has decreased from 515 in March 2023 to 329 in March 2026", a fall of 186, roughly a third of the Australian technology workforce. Note this is a net headcount decline over three years and will include ordinary attrition as well as offshored roles; Allianz has not published a breakdown, which is why the figure is marked estimated rather than confirmed. The redundant analyst programmer whose case produced the decision had his functions "wholly outsourced to an offshore contractor, HCLTech", the India-headquartered IT services firm. The Commission found the redundancy genuine, while acknowledging his complaint about capability gaps in the offshore replacements: "They have only been able to maintain and modify templates created by myself and other team members." Allianz Australia declined to comment further when approached by iTnews. Allianz Australia is a subsidiary of German insurer Allianz SE and is not ASX-listed, but is tracked here as a significant Australian offshoring case. Allianz SE booked a €643 million restructuring charge in Q2 2026 reflecting the acceleration of the programme globally. [iTnews]
- August 2026A second write-up of the same Fair Work Commission decision added detail about the worker at the centre of it. He had moved interstate to take the role and had passed on other career paths inside Allianz, and he told the Commission the offshore replacements "have only been able to maintain and modify templates created by myself and other team members". The Commission found it "understandable" that he "felt very aggrieved", but held the redundancy was genuine because the company no longer required the position to be performed in-house. The work went to HCLTech, the India-based contractor handling document management for the Allianz group. [Cyber Daily]
All facts sourced from public reporting. No editorial commentary. Click source links to verify.
Department Breakdown
| Department | Country | Headcount | Confidence |
|---|---|---|---|
| IT | 🇮🇳 India | 186 | Estimated |
Consultancy Engagements
| Vendor | Type | Contract Value | Status |
|---|---|---|---|
| HCL Technologies | Outsourced Dev | — | Confirmed |
Other Insurance Companies That Offshore
Other companies in insurance with reported offshore operations.
| Company | ASX | Reported Offshore | Offshore Destinations |
|---|---|---|---|
| Suncorp | SUN | 4,500+ | 🇮🇳 India🇵🇭 Philippines |
| QBE | QBE | 2,383+ | 🇵🇭 Philippines |
| Insurance Australia Group | IAG | 200+ | 🇵🇭 Philippines🇻🇳 Vietnam🇮🇳 India |
| Bupa Australia | 146+ | 🇵🇭 Philippines | |
| Medibank Private | MPL | 56+ | 🇮🇳 India🇵🇭 Philippines |
What Public Sources Say
All information below is sourced from publicly available documents and reporting. Excerpts are direct quotes. Click source links to verify.
“Cyber Daily's write-up of the same Fair Work Commission decision: "This has impacted not just the one person in the lawsuit, but has reduced local staff numbers from 515 in March 2023 to 329 in March this year." The redundant analyst programmer's functions were wholly outsourced to HCLTech, the India-based contractor providing document management services for the Allianz group. The Commission found it "understandable" that he "felt very aggrieved" at being made redundant, in part because he had moved interstate to take the role and had passed on other career paths within Allianz, but held the redundancy was genuine because the company no longer required the position to be performed in-house.”
“A Fair Work Commission unfair dismissal decision revealed that Allianz's "Speed2Value" initiative, publicly framed as a transformation programme, is an offshoring and cost-out drive. The decision states: "Since the commencement of the initiative, AzTech's direct employee headcount in Australia has decreased from 515 in March 2023 to 329 in March 2026" — a fall of 186, about a third of the Australian workforce. Allianz described Speed2Value as "an ongoing, global initiative focused on transitioning certain in-house roles and functions out of high-cost jurisdictions and into an offshore or outsourced model." The redundant analyst programmer's functions had been "wholly outsourced to an offshore contractor, HCLTech". The Commission found the redundancy genuine. An Allianz Australia spokesperson declined to comment further when approached by iTnews.”
Spread the word
Offshore Watch runs on people passing it on. If this matters to you, share it. The more people who see it, the harder it is to ignore.
This list is not complete, and never will be
If a company isn't listed here, that doesn't mean it doesn't offshore. And every number is the lowest we can prove, so the real figures can often be higher.
Read whyShow less
This list is not complete, and never will be
If a company isn't listed here, that doesn't mean it doesn't offshore. And every number is the lowest we can prove, so the real figures can often be higher.
This started as an ASX 200 project and mostly still is. It has widened as stories landed from outside that list, so it now also covers employers that aren't ASX-listed, like Canva, Allianz Australia, SS&C and Crown Resorts, along with government departments and agencies. Companies get added when something surfaces about them, not by working through a list in order.
Australian companies are under no obligation to disclose where their work is done, and there is no register of offshored jobs. Everything here comes from something that surfaced publicly: an annual report, a modern slavery statement, a news article, a union statement, a government contract, or a tip from someone who was there.
So an absence usually means nobody has reported on that company and we haven't got to it yet, not that it keeps its work onshore. Some of the biggest offshorers say nothing at all. And because each figure counts only what a source actually stated, the real numbers can often run higher, sometimes much higher.
Every figure links to the source it came from, so you can judge it yourself rather than take our word for it. If you know something that is missing or wrong, tell us. Corrections are published, not quietly buried.
This profile reflects public information at the time of publication and may not match current operations. Is something wrong or missing about Allianz Australia? Submit a correction. We welcome input from companies, employees, and researchers.